Early on Monday, bullion prices climbed to near $1,100 per ounce after the US dollar lost ground, prompting precious metal move away from a one-month low hit in the previous session when commodities dipped on President Barack Obama's proposal to limit financial risk-taking.

Spot gold was at $1,098.90 per ounce as of 3:03 GMT, gaining about 0.7% from New York's notional close of $1,091.65. Bullion touched a high of $1,099.25.

Precious metal hit a one-month low of $1,081.90 on Friday, although the dollar's decline provided some support.

Obama's plans to restrict banks or financial institutions from associating with a hedge fund or a private equity fund, which was unveiled on Thursday, reasoned stocks, the dollar and commodities to tumble.

As for the other precious metals, platinum and palladium also rallied on Monday. Spot platinum was at $1,554.00 per ounce, up from $1,546.50 in late New York, while spot palladium fetched $434.75, up from $430.50.

The two metals, valued for their use in automobile catalytic converters, have been trading at multi-month highs recently after the launch of US-based exchange-traded funds backed by the metals this month.

US gold futures for February delivery rose by 0.8% to $1,098.60 per ounce, compared to the $1,089.70 settlement on the COMEX division of the New York Mercantile Exchange. It plummeted to a 1-month low of $1,081.90 on Friday.

Noncommercial net long US gold futures positions dropped by 3.4% to 221,469 lots in the week to January 19 from 229,342 lots.

The SPDR Gold Trust reported its holdings to stay at 1,111.922 tonnes as
of January 22, unchanged from the previous business day.

Around 2:52GMT the precious metals was quoted as much as:


Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1098.25 6.60 +0.60 0.23
Spot Silver 17.10 0.14 +0.83 1.60
Spot Platinum 1552.50 6.00 +0.39 5.83
Spot Palladium 434.75 4.25 +0.99 7.21
TOCOM Gold 3195.00 15.00 +0.47 -1.96 48870
TOCOM Platinum 4502.00 3.00 +0.07 2.76 20838
TOCOM Silver 50.20 -0.80 -1.57 -2.90 626
TOCOM Palladium 1259.00 -1.00 -0.08 8.07 581

TOCOM prices in yen per gram, except TOCOM silver which is priced in yen per 10 grams. Spot prices are in $ per ounce.